What you want is "agreed to value" which means that both you and the
insurance company agree that the car is worth $15K. Maybe that's what they
mean by "actual cash value". You don't want "Stated Value"............. all
that means is that you're telling them your car is worth $15K. It doesn't
mean that they agree with that value or will pay you that much if you get in
an accident.
Other things to check would be: garage requirements, mileage limitations,
use limitations (how will they let you drive it? Shows only, out to dinner,
Sunday ride etc), do they require one daily driver per licensed driver in
the household (3 licensed drivers means 3 other cars plus the TR. Haggerty
requires this). One other thing to check is if your primary insurance
company has any requirements. I have an umbrella policy that covers my house
and cars and they require a specific minimum liability
coverage............... and they told me that Haggerty is the only classic
car insurer that goes as high as what I have.
Bob
Bob Danielson
http://tr6.danielsonfamily.org
1975 TR6 with:
Throttle Body Injection
Toyota 5 Speed
Nissan Diff & CVJs
-----Original Message-----
From: G.D. Huggins
Sent: Tuesday, August 09, 2011 5:14 PM
To: triumphs at autox.team.net ; RedRiverTriumph at yahoogroups.com
Subject: [TR] Seeking Classic Car Insurance Advice
All,
I am doing my homework on having the TR4A insured and have learned something
about "Actual Cash Value" vs. "Stated Value".
I have a quote from USAA based on Actual Cash Value. They do not do Stated
Value.
I am looking to get a quote or five from firms that will provide a Stated
Value policy AND have little to no driving restrictions.
Who should I look at? Who should I avoid?
Thanks in advance.
Cheers,
Guy D. Huggins
1965 Triumph TR4A
CTC 63569LO
Online project diary at http://www.genfiniti.com/triumph
triumphs at autox.team.net
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